Bank of Montreal Can Has $12.42 Million Holdings in Affiliated Managers Group, Inc. (NYSE:AMG)

Bank of Montreal Can lifted its position in shares of Affiliated Managers Group, Inc. (NYSE:AMG - Free Report) by 328.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,457 shares of the asset manager's stock after purchasing an additional 54,003 shares during the period. Bank of Montreal Can owned 0.24% of Affiliated Managers Group worth $12,420,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ensign Peak Advisors Inc lifted its holdings in Affiliated Managers Group by 0.6% during the 2nd quarter. Ensign Peak Advisors Inc now owns 9,902 shares of the asset manager's stock valued at $1,547,000 after purchasing an additional 60 shares during the last quarter. Covestor Ltd raised its position in shares of Affiliated Managers Group by 21.4% in the third quarter. Covestor Ltd now owns 471 shares of the asset manager's stock valued at $84,000 after purchasing an additional 83 shares during the period. OneDigital Investment Advisors LLC lifted its stake in shares of Affiliated Managers Group by 1.9% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,712 shares of the asset manager's stock worth $838,000 after buying an additional 90 shares during the last quarter. Kendall Capital Management boosted its holdings in shares of Affiliated Managers Group by 2.5% during the 2nd quarter. Kendall Capital Management now owns 4,135 shares of the asset manager's stock worth $646,000 after buying an additional 100 shares during the period. Finally, Foundry Partners LLC grew its stake in Affiliated Managers Group by 3.0% in the 3rd quarter. Foundry Partners LLC now owns 3,781 shares of the asset manager's stock valued at $672,000 after buying an additional 110 shares during the last quarter. 95.30% of the stock is owned by institutional investors.

Affiliated Managers Group Stock Performance

Shares of AMG stock traded down $2.13 during trading on Monday, hitting $185.41. The company had a trading volume of 160,252 shares, compared to its average volume of 236,417. The firm has a market capitalization of $5.60 billion, a P/E ratio of 12.09, a price-to-earnings-growth ratio of 0.69 and a beta of 1.18. Affiliated Managers Group, Inc. has a one year low of $135.22 and a one year high of $199.52. The stock's 50-day moving average price is $185.98 and its 200 day moving average price is $172.30.

Affiliated Managers Group (NYSE:AMG - Get Free Report) last released its earnings results on Monday, November 4th. The asset manager reported $4.82 earnings per share for the quarter, missing analysts' consensus estimates of $4.84 by ($0.02). Affiliated Managers Group had a net margin of 27.02% and a return on equity of 16.76%. The company had revenue of $525.20 million for the quarter, compared to the consensus estimate of $521.87 million. During the same quarter in the previous year, the company posted $4.08 earnings per share. The business's revenue was up 1.7% compared to the same quarter last year. On average, research analysts anticipate that Affiliated Managers Group, Inc. will post 20.91 earnings per share for the current fiscal year.

Affiliated Managers Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Thursday, November 14th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date was Thursday, November 14th. Affiliated Managers Group's payout ratio is presently 0.26%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Barrington Research reduced their price objective on Affiliated Managers Group from $210.00 to $200.00 and set an "outperform" rating for the company in a report on Tuesday, November 5th. TD Cowen cut Affiliated Managers Group from a "buy" rating to a "hold" rating and dropped their price target for the stock from $226.00 to $177.00 in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Affiliated Managers Group from $204.00 to $208.00 and gave the company a "buy" rating in a report on Monday, November 11th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $196.50.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.